December 7, 2021 9:39:07 am
The initial public offer of Anand Rathi Wealth Limited, part of Mumbai-based financial services group Anand Rathi, received 9.78 times subscription by the closing day on Monday.
The Rs 660-crore IPO received bids for 8,29,21,509 shares against 84,75,000 shares on offer, according to data available with the NSE.
The category for non-institutional investors was subscribed 25.42 times, Retail Individual Investors (RIIs) 7.76 times and Qualified Institutional Buyers (QIBs) 2.50 times.
The initial public offer of up to 12,000,000 equity shares had a price range of Rs 530-550 per share.
The company had on Wednesday raised Rs 194 crore from anchor investors.
Anand Rathi Wealth operates in the financial services industry with a focus on mutual fund distribution and the sale of financial products.
Equirus Capital, BNP Paribas, IIFL Securities and Anand Rathi Advisors were the book running lead managers to the offer.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.